Samsung to open retail channels in Africa, double revenue

January 15, 2018

Samsung Electronics plans to open retail channels in Africa and double its revenue

South Korea’s Samsung Electronics plans to double the annual revenue contribution from its African markets to 20 per cent of the firm’s global total in the next five years, the head of its business on the continent said on Monday.

Sung Yoon said the electronics giant, which accounts for over half of the mobile handsets and televisions sold in African nations like Kenya, would set up shops and other retail channels in more African countries and cut product delivery times.

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“We think Africa is extremely important for the future,” he told Reuters after a news conference in Nairobi.

Demand for Samsung products was being driven by growing African demand for bigger TV and mobile phone screens, he said.

Most customers were now buying 55-65 inch TVs, up from 32 inches about a decade ago, while mobile users were no longer content with three-inch mobile phone screens.